Hiring Solutions

Your Biggest Investment Can Be Your Greatest Expense

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As an investor, the biggest and most expensive investment is not the intellectual property, idea or product. It’s the inventor!

Most entrepreneurs/inventors will promise you anything! They have been coached to tell you the right stories and will express a great interest in learning from you. The fact is, many see the bright shiny object called business ownership and using someone else’s money as their answer. They fail to understand the money that has been invested may need to be repaid and that debt can limit future endeavors.  However, it will become your issue if you decide to invest in them and they are not ready.

How can you tell if the person you’re investing in is really the one that can make you money? Most investors buy an idea. The challenge can be the inventor comes along as a key element in the investment. As the investor, you need a way to determine whether or not the inventor has the enterprising interests or capabilities to setup and run a company. And, the willingness and ability to follow your directions!

When push comes to shove in any investor-inventor relationship (and, it will), many will push back and fail to follow-through. The problem is natural entrepreneurs, whether they have experience or not, don’t take well to being told what to do, how to do it, or be held accountable for the intended results that are not their ideas.

They generally are not coachable – they falsely believe if they can envision it, it will happen. They are often unaware of the focused actions required and how to be resourceful outside of themselves.  Their lack of hands-on experience and business knowledge can limit the successful launch of the product/idea and your profitability.

People are like icebergs. You only see about 10% of their skills, experience and education. The rest of the iceberg becomes known after you’ve invested in them.  By then, it may be too late to recoup your money.

What can you do to ensure you’re picking the right people to invest in? Know the person. Yes, it’s their idea that you are buying. They’ve probably invested their entire life savings, have second or third mortgages and received money from their parents, friends and other family members! They truly believe in their idea. However, consider this:

  • Did they use a strategic process to create it?
  • Do they have the mental engine to create a company?
  • Do they have the willingness to follow your lead and work collaboratively with you?

These are only three of the many questions that need to be asked and answered before you invest in them.

Discover the other 90% by using scientifically qualified assessments that will provide objective information about his or her learning style, core behaviors and occupational interests. It will open your eyes (and, usually theirs) about what type of entrepreneur, and future business owner, they will be.

  • Can the person create and build a company?
  • Will they work in a win-win manner beyond verbally agreeing with you and their new Board of Directors (or Advisory Board)?
  • Are the results they produce the intended ones?
  • Were they able to produce them on-time and within budget?
  • Does the leader have the mental engine to grow a financially successful business?
  • Do they even have the interest and discipline to do so?

As an investor, you will save a lot of time, energy and money knowing up front the type of inventor you are investing in – because, again, she or he can either be your biggest investment or your greatest expense.

©Jeannette Seibly, 2015

It can be lonely at the top! An experienced business advisor, always accessible and at a nearby desk can make a positive and powerful difference for you, and your employees. My goal is to be your in-house advisor, your ally and sounding board as you navigate the complex world of your business! (Contact: JLSeibly@SeibCo.com OR 303-917-2993)

Creating a Job-Fit Company

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Are the right people in the right seats on the right bus?

When employees (and bosses) are in the right job (job-fit), it creates a fun and rewarding work environment! The team and individual members make significant contributions to the success of the organization. Everyone experiences high levels of job satisfaction and loyalty. There is a synergy of ideas and working relationships that excel beyond the norm. Sales increase. Customers experience higher satisfaction working with the company. Profits soar. These are the results of job-fit.

Unfortunately, more than 63 percent of the working population do not fit their jobs! Why? We rely upon traditional selection methods and then rationalize hiring failures as “not our fault.” We accept poor job-fit mistakes as part of the norm. We fail to create and follow a hiring and selection system. The fact is a business is often better off leaving an “empty seat on the bus” rather than randomly filling the position with someone not well-suited to the job.

Hire the Right Person. We are often snookered by verbally adept candidates. We fall into this trap when someone has the ability to sell themselves, whether they possess true interest or capability to do the job well or not. Studies show, poor job-fit produces unhappy employees. Those who are unhappy in their work create miscommunication, make more mistakes, fail to focus on critical elements, and blame others for their inability to produce required results. They are overly focused on things that don’t matter rather than solutions that fit the vision and values of the company.

Understand the Financial Impact. Hiring people who do not fit your job requirements and your company’s culture will cost you time and money. They may even irrevocably damage your reputation. The wrong person can actually increase your business and product liability.  Unfortunately, there is no line item on your financial statement about this costly outcome. But if you analyze the true expenses, tangible and intangible, you’ll be shocked and dismayed by these hidden costs. For a quick and easy calculation, read Page 20 of Hire Amazing Employees, Second Edition (http://BizSavvyHire.com) or contact me at JLSeibly@SeibCo.com

Select the Right Tools. Develop promotion and selection processes built upon gathering reliable, valid, relevant information. This can be a challenge since we consider using scientifically designed assessments as costly, and not as important as our gut feelings. The added falsehood is that we believe we can coach, train and motivate anyone to do anything. This is wrong!

Select assessment tools that meet Department of Labor (DOL) guidelines (for a copy of the guidelines, contact me at JLSeibly@SeibCo.com) and that provide information regarding how well their mental engine, their ability to drive the engine, and their interest in doing so, fit within your company, for any specific job.

Train the Interviewers.  Many interviewers rely upon their intuition and perceptions (their guts). The pitfalls are only hear what they want to hear. They don’t catch or ignore conflicting signals. The facts are, job candidates say all the right things and make the right type of promises to get the job offer. How often has this happened to you? Use a structured interview process to discern candidates’ depth of job skill. Implement use of qualified and scientific assessments that contain interview questions. Then, use these behaviorally based questions to provide a structure to ascertain reliable job fit.

©Jeannette Seibly, 2010-2015

Are you looking for business advice and laser-coaching to resolve an issue or situation? Contact me. I’ve been a business advisor and author for over 20 years. I’ve guided the creation of new solutions for 1,000’s of business challenges and published the book, Hire Amazing Employees (BizSavvyHire.com). Check out my website: SeibCo.com.

Are You Ready for New Business?

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Many small business owners focus on making money and paying bills. But, they fail to plan for and build systems to take on new clients. Then, to compound matters, they typically fail to hire the right people to manage all the new business.

What is your capacity to handle new clients without reducing the quality, price and service you deliver?

Start now for tomorrow’s success. As entrepreneurs, we believe we can automatically handle an increase in sales volume. It’s what we and our investors want! However, unplanned, rapid growth can send any business into financial ruin. Remember, customers have little patience for your trial and error. Start now to create effective systems to handle new business.

Hire the right people. As one client said, “The most expensive cost is the interval between when I realize an employee needs to go, and when I actually make it happen.” Hire slowly and fire quickly. Why? People who fit their job responsibilities are more productive, build sustainable work processes, and enjoy job satisfaction. They keep your clients coming back. Research confirms it — companies and employees and clients all benefit! (Develop your strategic hiring system today: BizSavvyHire.com)

Work smarter, not harder.  Are your systems set-up for the convenience of your employees? Or, for the convenience of your customers? Win-win outcomes require both! Working smarter requires asking both before making changes!

  • Listen to their opinions: What works for them? What doesn’t work for them?
  • Allow them to clarify before asking: What else can we do to help you grow?

Your attitude makes a difference. A wise entrepreneur once said, “When you think you have it all handled, you’ve set yourself up for failure.” Denial may work temporarily; however, when you’ve lost a large customer, it’s time to face facts. You have a learning opportunity to keep the ones you have. Ongoing training is critical for your employees in product, technology, sales, pricing and operations. It builds cohesive, knowledgeable teams – and keeps customers coming back. Don’t forget management coaching for you and your executive team. Ongoing training and coaching should be the last areas you slash as cost-saving measures!

Company growth requires keeping your eye on managing the metrics and empowering employees to manage the details successfully.

Jeannette Seibly has been an international business and executive coach for over 20 years. She has guided the creation of three millionaires. Are you the next one? http://SeibCo.com/contact

©Jeannette L. Seibly, 2015

Are your next leaders ready?

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Many companies today are starting to feel the squeeze of needing experienced leadership and looking for it in all the wrong places. It starts with vetting and onboarding your future leaders now and providing them the learning opportunities they need to build business acumen. (Read more on this topic is my eGuide “Companies and Executives Need to Vet and Onboard Each Other!” http://ow.ly/qYzMB)

Onboarding your leaders in new jobs require:

    • An inside mentor and outside business advisor (or executive coach)
    • Building upon strengths and providing opportunities to develop and grow
    • Developing initiative, resourcefulness, and an ability to work with and through others to achieve results through collaborative opportunities
    • Very importantly, coachability. Hiring know-it-alls will only limit their ability to grow, be promotable and your company’s ability to attract and retain top talent.

Use a strategic hiring process to ensure the candidate can do the job now and appears to have the objective ability to be promoted in the future. Qualified selection and coaching assessments along with qualified 360-degree feedback can make a significant difference in selecting and developing the right person, one with executive potential, regardless of past work experience. (http://SeibCo.com/assessments)  

When interviewing candidates for employment or promotions, drill down—most candidates are adept at telling you what you want to hear. Ask the right tough questions and listen to their responses and examples. Many times candidates truly believe they can handle job responsibilities and don’t take into consideration other life commitments, a different work culture, or different expectations required in the executive office. Devise a structure to ensure that if candidates fail, they aren’t automatically fired. You’ve invested a lot of time and money in employees’ success—simply restructure their upward movement in a lateral direction. (For additional insights in how to interview, get your copy of Hire Amazing Employees: Second Edition (http://BizSavvyHire.com)

Learning Opportunities Can Be Priceless

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As a leader, it’s important for you to be receptive to new ideas generated through collaboration between different work groups. They foster teamwork and can bring about cost-effective and competitive-edge systems, procedures, and off-the-wall solutions. Create a safe structure for employees to take their ideas and run them through the company’s business model – doing so enables employees to understand how business decisions are made.  Include budgetary and other market-driven concerns in their learning repertoire. Remember, some of these innovations will work and some won’t— it’s how you handle the debrief that will provide priceless learning opportunities and encouragement.

(c)Jeannette L. Seibly, 2013

Promote the best, not the ones you like the best.

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Too often we use a “halo effect “when promoting employees into leadership roles or coveted opportunities. These people looks like the right ones because we like them or they’ve done something extraordinary recently. Unfortunately, they may not have the thinking style, core behaviors, or occupational interests to get the job done in their new positions. To approach promotion more objectively, first, understand the competencies required of the job. Second, use qualified assessments to discern candidates’ inherent strengths and weaknesses. Third, promote based upon merit, not likeability. Always use the same strategic hiring system for both internal promotions and external hires. To learn how to create a strategic hiring system that works, get your copy of Hire Amazing Employees, Second Edition, http://BizSavvyHire.com.

(c)Jeannette L. Seibly, 2013

Culture is the fall guy

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Why do so many executives fail in new jobs? While many blame company culture, I would suggest that culture is the scapegoat. Poor cultural fit simply amplifies or points out what the C-suite or board members on the hiring committee failed to uncover during the vetting or onboarding process!

Instead of blaming culture, management teams should take the time to think through and write out a strategic hiring process that works, and design it to ensure that each party explores and investigates the other. They should use qualified systems and tools, trust the process, and follow it. Remember, more conversations will be required when hiring an executive to ensure consistency of philosophy and provide deeper exploration of issues and potential solutions. If you follow a well-designed system and use it in the spirit in which it was intended, you will know that you’ve done your best to ensure a positive partnership—even though there are never any guarantees. Excerpt from Companies and Executives Need to Vet and Onboard Each Other! http://SeibCo.com/books/eguides   

(c)Jeannette L. Seibly, 2013

Are Your Company’s Values Meaningful?

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Everyone brings their own set of personal values into a company, whether it’s when to pay bills, if and when to respect authority or follow rules, or even what’s an acceptable time to arrive at work or an event. Some employees’ values will naturally fit into your organization’s culture, while other employees won’t align with your written business practices and unwritten business expectations. (Qualified core value assessments can reduce selection errors so you hire the right people with values that match your organization. [http://SeibCo.com/assessments ])

The purpose of having a written set of company values is to get everyone on the same page in order to create a workable structure for open communication, clarity of expectations and ethics, respect, trust, and so on. For values to have a positive influence, all employees and managers within an organization need to feel free to voice their concerns and learn how to interact without fear of retribution. Creating meaningful workplace values contributes to reducing turnover, increasing sustainable profits, and building a positive business reputation, since everyone is working from the same set of company principles.

(c)Jeannette L. Seibly, 2013

Have you hired a salesperson who can’t sell?

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Selecting salespeople who can actually sell is a huge challenge for any employer, particularly when a significant number of applicants stretch the truth or lie. When technical sales skills are required, the level of deception increases to offset lack of experience or poor results in previous positions. Even if they did well and sold the same or similar products or services for your competitor, it doesn’t mean they can or will produce the same level of results for you. 

Many times sales managers are misled when applicants:

  • Have very good verbal skills (which does not mean they have the personality and/or interests to deliver the results);
  • Appear to be good team players (many good salespeople are not); or
  • Are able to sell themselves (which does not mean they can sell your products or services).

Measuring sales metrics during the interview, not after, requires you to ask the right questions and listen to candidates’ responses. Be specific in your questions by asking for actual numbers, percentages, and increases or decreases in results. It will not eliminate the need to use valid assessments that objectively, reliably, and legally measure your candidates’ true match to your sales job.  http://SeibCo.com/assessments

©Jeannette Seibly, 2013

Emotional hiring can be dangerous!

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Many executives are good decision-makers or they wouldn’t have the title. However, many are so busy that they fail to listen during interviews unless the candidate says the right things. Then their impulsiveness and impatience kicks in and they hire people that “feel like the right ones”! Hiring based on intuitive powers may sound great, but in reality it is an excuse for not using a strategic hiring system.  

Anytime you hire someone who doesn’t fit all the necessary job requirements but has the likeability factor, you’re doomed for failure. Frequent job-seekers—people with backgrounds to hide and manipulative types—have honed their interview skills well! They know what to say and how to sell themselves to get a job. They know how to be likeable.

Infuse objectivity early in the hiring process. (http://wp.me/p2POui-nj ) This will significantly reduce the possibility of interviewing these types of job candidates and falling into the emotional hiring trap. Use a structured interview process, qualified assessments, and due diligence. Call those references! (Learn how to hire the right person. Get your copy of Hire Amazing Employees, Second Edition. It could save your own job!  http://BizSavvyHire.com)

(c)Jeannette L. Seibly, 2013